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CAMBRIDGE, MA—Thomas Catinazzo, the Chief Monetary Officer of Relay Therapeutics, Inc. (NASDAQ:RLAY), lately offered a good portion of his holdings within the firm. In line with a current SEC submitting, Catinazzo offered a complete of 4,865 shares of widespread inventory on December 27, 2024. The gross sales had been executed at costs starting from $4.38 to $4.42 per share, with the whole transaction amounting to roughly $21,490. The transaction comes as the corporate, at the moment valued at $688 million, trades close to its 52-week low of $4.11, in response to InvestingPro information.
The submitting signifies that the gross sales had been carried out in two separate transactions. The primary transaction concerned the sale of 299 shares at $4.38 every, totaling $1,309. The second transaction, carried out beneath a pre-arranged buying and selling plan, concerned the sale of 4,566 shares at a weighted common value of $4.42, totaling $20,181. InvestingPro evaluation reveals the inventory has skilled vital volatility, with shares down over 62% previously 12 months.
Following these transactions, Catinazzo retains possession of 299,226 shares of Relay Therapeutics, which incorporates shares underlying restricted inventory items. The gross sales had been a part of a method to cowl tax obligations associated to the vesting of restricted inventory items, in addition to a deliberate sale beneath a Rule 10b5-1 buying and selling plan.
Relay Therapeutics, headquartered in Cambridge, Massachusetts, is a biotechnology firm centered on growing precision medicines.
In different current information, Relay Therapeutics has skilled a number of vital developments. The corporate’s RLY-2608, a breast most cancers remedy, is progressing in direction of Part 3 trials, with analysts from BofA Securities predicting potential peak gross sales surpassing $1 billion. Relay Therapeutics additionally finalized a worldwide licensing settlement for lirafugratinib with Elevar Therapeutics, with potential features of as much as $500 million in funds. In the meantime, numerous analyst corporations, together with H.C. Wainwright, Leerink Companions, and BofA Securities, have adjusted their value targets for the corporate, whereas sustaining constructive rankings.
The U.S. Meals and Drug Administration lately accepted Roche’s Itovebi (inavolisib) for a selected breast most cancers remedy, which incorporates Relay Therapeutics’ drug candidate. Nonetheless, Oppenheimer downgraded their ranking for Relay Therapeutics as a result of issues concerning the selectivity profile of RLY-2608. The corporate’s Part 1 ReDiscover trial demonstrated promising outcomes, resulting in changes in analysts’ outlooks.
As Relay Therapeutics continues to advance its drug improvement efforts, it maintains a robust monetary place, with more money than debt and a strong present ratio. These current developments underscore the corporate’s ongoing progress within the extremely aggressive area of therapeutic drug improvement.
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